Attica Holdings S.A. ("Attica" or the "Company") and Marfin Investment Group (MIG) announce the following:
- Earlier today MIG, through its 100% subsidiary MIG SHIPPING S.A., acquired from Attica's main shareholders a 49.9% stake in the Company at the price of Euro 5.50 per share. In total, MIG now holds a 51.3% stake in Attica.
- Mr. Pericles Panagopoulos will retain his position as Chairman of Attica, while Mr. Andreas Vgenopoulos will assume the position of non-executive vice-Chairman of the Company.
Commenting on the deal, Mr. P Panagopoulos made the following statement:
"I am glad to accept to remain as Chairman of the Company and, following the entry of a significant shareholder such as MIG in its share capital, to leverage its renewed capacity for robust growth. The demands arising from current developments and trends in the global economy make a strategy based on cooperation and mergers necessary in order to successfully address new corporate challenges".
Moreover, Mr. A Vgenopoulos stated:
"I thank Mr. Panagopoulos for his choice of MIG as the new majority shareholder and ally to Attica's further expansion plans. I am confident that the Company under his leadership and our strong, all-round support will continue to create considerable value for all its shareholders".